Canadian Provincial Permanent Residency Streams for Entrepreneurs Part 3 – Newfoundland and Labrador, Prince Edward Island, Yukon, Northwest Territories.

Newfoundland & Laborador offers two permanent residency streams for entrepreneurs, the International Entrepreneur category and the International Graduate Entrepreneur program. The requirements for each are as follows:

Interested applicants can take the appropriate steps to obtain an invitation to apply from the Newfoundland & Labrador Provincial Nominee Program, and upon approval, applicants will be able to apply for a work permit to operate the business in Canada. After at least 12 months of business operation and provided all requirements are met, the applicant can receive the nomination certificate from the province, with which they can apply for permanent residence to the IRCC.

Prince Edward Island (PEI) offers one permanent residency pathway for entrepreneurs under its provincial nominee program, called the Work Permit Stream for entrepreneurs. Requirements include the following:

• Aged between 21-59.
• Minimum individual net worth of $600,000 or above.
• High school education or above, and transferable management skills or past employment or business ownership experience.
• Minimum investment of $150,000 in the applicant’s business in the province, whether a start-up or purchase of an existing business.
• Provide active and ongoing management of the business for at least 12 months after arriving in Canada.

Interested individuals may register an expression of interest to the PEI Immigrant Nominee Program for candidacy and, if selected, can apply for a work permit to come to Canada to develop their business. After at least 12 months of operation, provided all requirements are met, the applicant may apply to obtain a nomination from Ontario for permanent residence. Based on this nomination, the applicant can apply for permanent residency to the IRCC.

Yukon offers one permanent residency stream for entrepreneurs, called the Yukon Business Nominee Program. The requirements include the following:

• Minimum personal net worth of $500,000 or above, $300,000 of which must be liquid assets
• Personal investment of at least $300,000 to establish or purchase a business in Yukon.
• Own (at least 1/3 of the equity) and manage a business in the following categories: IT, manufacturing, value-added processing, forestry, tourism, energy, mining, agriculture, cultural industries, or film and video production.
• At least 3 years of entrepreneurial experience, or 5 years of experience in a senior business management role.
• High school diploma or above.

Interested applicants may submit an expression of interest, and if invited to apply, can submit application for nomination. Once approved, the applicant can apply for a work permit to come to Canada to establish and run their business for 2 years under a Performance Agreement. At the final stages of this period, the entrepreneur can obtain nomination to apply for permanent residency to IRCC.

The Northwest Territories offers one permanent residency stream for entrepreneurs, called the Business Stream. The requirements include the following:

• Personal net worth of $500,000 or above if investing in Yellowknife; $250,000 or above if investing outside Yellowknife.
• Invest at least $300,000 to purchase or establish a business in Yellowknife, or $150,000 outside Yellowknife.
• Own at least 1/3 of the business’s equity, unless if investing more than $1 million.
• Language proficiency (CLB 4).
• Demonstrate experience, education, and knowledge necessary to successfully implement the business plan.

Interested applications may submit an expression of interest and conduct an exploratory visit and face-to-face interview with the Program. Following this, Northwest Territories Provincial Nominee Program may issue an invitation to apply. Then the entrepreneur will submit an application. If approved, the applicant will come to Canada to establish and operate the business for two years under a Performance Agreement. At the final stages of the 2-year the applicant may receive a nomination certificate (if all requirements are met), with which they can apply for Canadian permanent residency with the IRCC.